June 2011 report for all Pitkin County real estate transactions released July 29, 2011

Also see: The Estin Report: 1st Half 2011 State of the Aspen Market (released 07/14/11) for Aspen and Snowmass specific market activity.

June 2011
Pitkin County Market Report by Land Title

See attached charts for June ’11 Market Analysis

2011 June Pitkin County Market Analysis Summary

  • $173,547,002 – total dollar volume, an increase of 50% from June 2010
  • June is the strongest dollar month thus far in 2011
  • Notable sales include: Silvertree Hotel PUD (Commercial) $38,750,000 and a residential unit in Snowmass Village for $16 million
  • 66 – total transactions, an increase of 32% from June 2010
  • Through June, dollars total $709,571,212 – an increase of 24% from same period 2010
  • Through June, transactions total 389 – an increase of 13% from same time period 2010
  • Aspen (Zone 1) reported 30 of the transactions, Interval units 13, Snowmass Village 11, Basalt 6, Woody Creek 1, Old Snowmass 1, Carbondale 1, and Redstone 1. The remaining 2 transfers were quit claim deed transfers.
  • Aspen’s dollar volume totaled nearly $82 million, Snowmass Village $79.3 million, Interval units $7.5 million, Basalt $2.4 million, Woody Creek $1 million, Old Snowmass $635,000, Carbondale $520,000, Redstone $145,000, the remaining $34,875 were quit clam transfers
  • There were a total of 5 bank owned transactions in June. This accounts for 8% of the transactions and 2.4% of the dollars
    • 2 – Snowmass Village, 1 – Aspen, 1 – Basalt, 1 – Interval Unit
  • Through June there have been 36 bank owned transactions. This accounts for 9% of the transactions and 3% of the dollars
  • The average single family home sold price for Pitkin County thus far in 2011 is $4.8 million, an increase of 10% from full year 2010
  • The median single family home sold price for Pitkin County thus far in 2011 is $3.1 million, a decrease of 2% from full year 2010
  • Fractional dollars totaled $7.5 million for the month, a decrease of 49% from June 2010
  • Fractional transactions totaled 13, a decrease of 28% from June 2010
    • Little Nell – 4, Hyatt Grand Aspen – 3, Ritz Carlton – 2, St.Regis – 2, Roaring Fork Club Suites -1, Timbers Club -1
  • For the year, fractional dollars total $55.6 million, an increase of 2% from same time period 2010
  • For the year, fractional transactions total 123, an increase of 38% from same time period 2010

June 2011 Pitkin County Market Analysis Compliments of Land Title